Reuters Financial News

By Wayne Cole

By Tom Westbrook

BUENOS AIRES (Reuters) — The International Monetary Fund (IMF) should in the coming days finalize the basis for a staff level agreement with Argentina over a review of the country's $44 billion loan with the IMF, the Washington-based fund said on Sunday.

Go First also assured that they will be able to resume booking shortly. “As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly" the statement read.

Bain Capital, the US-based investment company, announced on July 23 that it has signed a pact to acquire 90% of Adani Capital and Adani Housing. Under the deal, Bain will buy out all of the Adani family's private investments in the company.

Investing.com — The week will be dominated by central bank meetings, with the Federal Reserve and the European Central Bank both poised to deliver rate hikes, while the Bank of Japan stands pat. A rally in U.S. equities markets faces an inflection point and oil looks set for more gains amid concerns over the supply outlook.

Premier Tim Houston, adding that at least seven bridges would have to be replaced or rebuilt. "The property damage to homes ... is pretty unimaginable," he told a news conference.

(Reuters) -A Russian war reporter was killed and three were wounded on Saturday in what Moscow alleged was a Ukrainian attack using cluster munitions, prompting outrage from politicians.

By Sudarshan Varadhan and Nidhi Verma

U.S. Inflation Reduction Act has companies scrambling to recycle electric vehicle batteries in North America, putting the region at the forefront of a global race to undermine China's dominance of the field. The IRA includes a clause that automatically qualifies EV battery materials recycled in the U.S. as American-made for subsidies, regardless of their origin. That is important because it qualifies automakers using U.S.-recycled battery materials for EV production incentives. Reuters interviewed more than a dozen industry officials and experts who say that is kicking off a U.S. factory building boom, encouraging automakers to research more recyclable batteries, and could eventually make it harder for buyers in developing countries to buy old used EVs.

Go Airlines (India) Ltd has received claims worth Rs 24,000 crore ($2.9 billion) from operational and financial creditors so far as part of the carrier's ongoing insolvency, two banking sources told Reuters. The process is in line with procedural requirements under Indian law which allow every creditor a right to payment and remedy by submitting claims if a company is under bankruptcy. Once the claims are filed, the resolution professional has to check its authenticity. «Claims from the lenders are around Rs 5000 crore, while lessors' claims amount to Rs 180 crore so far,» a banker with a state-run bank, who has exposure to Go Airlines said, after a meeting of the committee of creditors on Friday. The bankers did not wish to be identified because they were not authorised to speak to the media. Go Airline's resolution professional has yet to verify the veracity of the claims and did not immediately respond to a Reuters' email seeking comment.

Reuters, the aid package, valued at up to $400 million, will primarily consist of artillery, air defence missiles, and ground vehicles, as Ukraine continues its counteroffensive efforts. However, the package will not include cluster munitions, according to two US officials who spoke on the condition of anonymity. In July, the United States provided dual-purpose improved conventional munitions (DPICM) to Ukraine.

DOMS approved an initial public offering (IPO), Italian pencil maker Fabbrica Italiana Lapis ed Affini SpA (Fila) which holds 51 per cent in DOMS said on Friday. Fila has committed to offer 90 million euros worth of DOMS shares for sale while still remaining the company's single largest shareholder post IPO. The listing is expected to close by the end of the year, Reuters reported citing the Italian pencil maker.

Investing.com — OPEC’s bid for $80 and above oil got a boost from ally Russia this week as Moscow’s increasingly desperate offensives against Ukraine raised supply concerns in a market already besieged by the oil cartel’s rhetoric over cuts. 

MEXICO CITY (Reuters) — Mexico's headline inflation likely eased in the first half of July to its lowest level in more than two years, but still remained above the central bank's target, a Reuters poll showed Friday, reinforcing bets the bank will hold its key rate longer.

By Olena Harmash

Following a decline of 0.4% in May, food shop sales volumes rebounded with a 0.7% increase in June.

MOSCOW (Reuters) -Russia's central bank hiked its key interest rate by a greater-than-expected 100 basis points to 8.5% on Friday, raising the cost of borrowing as the weak rouble added to inflation pressure from a tight labour market and strong consumer demand.

Tesla CEO Elon Musk is ready to cut electric car prices again to drive sales if the economy swoons, and part of the reason is a bonanza from Biden administration tax credits. «It does make sense to sacrifice margins in favor of making more vehicles,» Musk said on Wednesday, noting that Tesla was facing «turbulent times.» Tesla shares fell nearly 10% on Thursday as investors worried that the automaker's margins, which have been in steady retreat for the past year, face further headwinds. But whether Tesla offers additional discounts or not, the tax credits for battery manufacturing give it a competitive edge over rivals that make fewer batteries, Reuters' analysis of the company's second-quarter results shows.

central bank raised its key interest rate by 100 basis points to 8.5% on Friday, raising the cost of borrowing as the weak rouble stoked inflationary risks from a tight labour market and strong consumer demand. It was the first time the bank had lifted rates in more than a year, having gradually reversed an emergency hike to 20% made in late February last year after Russia's decision to send tens of thousands of troops into Ukraine, which saw the West impose sanctions on Moscow. It had previously held rates at 7.5% since the last cut in September.

BERLIN (Reuters) — JPMorgan (NYSE:JPM) will expand its online bank Chase to Germany and other European Union countries, CEO Jamie Dimon told German newspaper Handelsblatt, a move that increases competition for European rivals in a crowded market.